Livepeer a decentralized video platform based on Ethereum, gets an investment worth $ 8 million in the first series A funding waged by the platform incooperation with Northzone company.
As noted, the interest in the video and its industry has increased as much as before and the quality of the output presented has increased.
However, high-quality video playback requires medium or high computer power to come out with professional video.
This is a point that Doug Pettecnix and Eric Tang have used to build a platform that connects video makers to powerful computer owners to display their power for video processors while offering a ” crypto-based platform which uses Ethereum as the tradable coin”
The Livepeer platform acts as an intermediary between powerful computer owners and video broadcasters, providing a payment mechanism between the two parties via etherium.
The platform currently has 30 power supplies and over 100 videos.
The Livepeer platform is also designed for developers who want to create apps that include live streaming of video, as well as famous channel owners and broadcasters who have a host of followers
To provide a high quality video transmission mechanism at lower costs.
By leveraging idle computing power, the platform offers broadcasters 10 times cheaper costs
Equivalent to 70 cents a day for $ 3 per hour in traditional broadcast services.
The founders believe that their project will grow in the coming years
Especially after receiving funding that will contribute to improving their development of platform applications.
The platform also offers six months free of charge to new subscribers as an incentive to test the service.
Please note, that is not a bit of financial advice, nor the WhaleToBe team’s view